Bitcoin is coming to the USA and UAE!
Might sound weird but, America’s favourite ‘Joe’ is causing a lot of turmoil globally; some positive and some, well… He’s recently got ruthless with the sanctions and at some point, we all thought he will be coming for our crypto. I mean, your crypto… I’m far away from the United states. I guess he did though, maybe not. But the warnings were stern throughout crypto twitter.
“Get your Bitcoin off the exchanges”, I came across that a number of times as America’s parliament prepares to draft a number of policies against cryptocurrency. First, I wouldn’t leave a tangible sum on exchanges, so that’s by the way.
Cryptocurrency is currently a wild west and personally I agree that some regulatory policies should be in place. Even though bans by governments always turn positive on the long run, some government influence is needed to keep cryptocurrency from being a menace.
That has been coming, one after the other. Before these past few weeks; many nations including the United States, have drafted policies to either contain or prevent cryptocurrency’s influence on its economy. Donald was literary scared that bitcoin will grow stronger than the United States dollar, I respect his opinion and once again; he might be right.
Bitcoin growing stronger than most fiat economies is already a thing and time might be all it takes before it grows stronger than even the strongest economy. With the right regulations put in place, this might even happen faster than we presume.
Despite over forty million Americans already invested in bitcoin, the latest set of policies signed by the United States’ president is the “The first ever, whole-of-government approach to addressing the risks and harnessing the potential benefits of digital assets and their underlying technology.”
These policies principally recognize the position of digital assets in the global economy and also the risks that accompanies this space for both individuals and (national) institutions. This policy is thus an attempt on a national level to protect both institutional and individual role players in this space. Provisions of this policy includes charges to concerned departments to work towards placing the United states at the forefront of this emerging sector.
Concerned United States agencies will as a response to this policy work towards assessing and curbing the risks involved in digital assets investments, set up an international framework to build and allied responsive action towards digital assets and ensure that the United States is well represented in any of these actions.
The disappointing part is that the United States could be diving into CBDCs. Well, not so disappointing when you understand that centralized governments will always have a preference for centralized technologies.
Decent developments from this policy is that for the first time; the United States on a national level have recognized digital assets as a viable sector and have declared her interest to be a part of this space. Prior to this, most moves by the nation have been majorly about limiting the influence of digital assets on the national economy. This might still be the case…unfortunately.
Regardless, it is now safe to say that Bitcoin is (legally) coming to the United states!
In a similar news; United Arad Emirates’ Flamboyant emirate – Dubai, have also announced the creation of a regulatory and licensing authority. An independent authority to oversee the development of the best business environment in the world for virtual assets in terms of regulation, licensing, governance, and in line with local and global financial systems.
Thanks to series of clever economic decision these two have made a notable name for themselves in the global economy. Depending on how positive the regulations drafted by these bodies are, cryptocurrency is set to explore new dimensions.
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I am greatly offended by the misinformation of America's favorite "Joe" I am an American. I know a ton of people here in the United States and have only ever met one person whom Voted for that Idiot in person. Now online is a different story.
Secondly, the whole get your money off of exchanges is a propaganda ploy to cause a mass exodus of funds from exchanges to drive up demand while decreasing the supply which should adversely increase prices majorly. The reason this started was because of the Truckers For Freedom Convoy's here in the United States and also those in Canada whom have been peacefully protesting the over step of power by both Governments.
When Canadian Prime Minister froze donations coming to the Truckers Convoy, they also froze the bank accounts of those whom donated to the Convoy. People started jumping on the crypto train thinking it was unstoppable, right?
That is CEO's of several top exchanges announced that they would be forced to comply with such regulations and freeze users assets on exchanges if so ordered by the Government.
I still stick with it is better to hold your crypto in your own hardware wallet, NOT YOUR KEYS, NOT YOUR CRYPTO at the end of the day. Also if you are on one of these exchanges which is regulated by a corrupt Government and you are donating money to it's opposition than you should be in fear of the Government taking your funds from those exchanges.
Biden's done nothing but hurt Americans since he took office. This executive order looks really awesome for Crypto on the outside it seems like it wants to put America in the front of Crypto Adoption in order for America to hold on to it's Reserve Currency Standard, but like you pointed out, this is a strategic power play amongst the Biden Regime to attempt to control an uncontrollable aspect of the World now.
I have to say, we will see both good and bad come out of this Executive Order. Bitcoin is safe though, too many of the people that paid Biden's way into office own Bitcoin. They are not going to let their Puppet hurt them where it really counts.
Sorry, I have a lot of opinions as well. lol